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Shota
Shota is 40 years old. He lives in Gardabani district with his wife, a brother, his retired mother and his son. Shota requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of low income and the family’s poor living conditions.

The family owns a grocery shop and a second-hand clothes shop. Their additional income is Shota’s mother’s monthly pension.

Shota requested a loan from Credo to start up a family business. Shota has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to rural poor people, who do not have access to credit products. These rural poor people are regarded as “high-risk borrowers” because of their low income.

With his credit, Shota will purchase chicks. After the chicks are grown, he will sell them at a good price and earn additional income for the family. Shota is a very hardworking man, and he wants to develop his poultry business. To do so, he will work hard and reinvest the profit in the same field. The new business initiative, financed with the Kiva start-up loan, will give Shota the opportunity to provide better living conditions for his family.

Additional Information

More information about this loan

This loan is part of Credo's startup loan program targeting particularly vulnerable clients who live at the subsistence level and have been unable to obtain credit due to lack of income from an existing business. This program offers them a longer repayment term and an annual interest rate that is 5% lower than the standard interest rate. By funding this loan, you are supporting a program that gives borrowers a second chance to start and grow small businesses. This has the potential to alleviate the effects of poverty, significantly improving borrowers' incomes and their families' quality of life. Learn more about Credo's startup loan program on the Kiva Blog.

About LLC Micro Finance Organization Credo

LLC Credo (Credo) is a microfinance organization in Georgia that provides sustainable credit services to alleviate poverty in rural areas, including business loans, agriculture loans, household loans, crop insurance and more. Kiva lenders’ funds are used to help the organization expand its outreach to even more entrepreneurs, farmers and households in remote areas.

About Georgia

  • $6,100
    Average annual income
  • 44
    View loans »
    Georgia Loans Fundraising
  • $7,800,275
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Shota to purchase chicks.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Apr 27, 2013
Listed
Apr 30, 2013
Currency Exchange Loss:
Possible
Ended:
May 17, 2014